According to HKTDC’s report, ASEAN market has undergone rapid development over recent years. This has seen rising purchasing power lead to sustained growth in consumer demand. At the same time, the e‑commerce‑driven transformation of the overall shopping experience has rejuvenated many of the ASEAN markets.
When asked why they favoured a particular market, 43% of traders indicated that rapid market growth and increased consumer purchasing power were the primary factors in their choice. It was also acknowledged that shifting consumer behaviour (38%) and less competition compared to traditional markets (38%) had also influenced their views.
Against this backdrop, cross-border e-commerce has become one of the key drivers of ASEAN’s digital economy growth. To strengthen connections between businesses and consumers across the region, ASEAN launched the ASEAN Online Sale Day (AOSD) initiative in 2020.
More than just a regional online shopping event, AOSD is a flagship ASEAN initiative to promote cross-border e-commerce. The programme provides businesses with opportunities to showcase their products, connect with partners, expand into new markets, and progressively integrate into regional and global value chains. At the same time, AOSD helps promote the unique products, cultural values, and distinctive identities of each ASEAN Member State to consumers across the region, thereby strengthening regional economic integration, enhancing intra-ASEAN trade, and contributing to the development of a more connected and sustainable ASEAN digital market.